Kenmore European Industrial fund has sold the Brackeler Hellweg industrial property in Dortmund, Germany, for around EUR 20 mln. The industrial property comprising around 140,000 m[sup]2[/sup] of land and a gross lettable area of 80,000 m[sup]2[/sup] was sold in two separate transactions. Kenmore said Tedi & Co., the current anchor tenant, has bought 125,000 m[sup]2[/sup] of the property, representing 70,000 m[sup]2[/sup] of its GLA for EUR 17.7 mln. The remaining area of 14,285 m[sup]2[/sup] was sold to Rewe Dortmund Grobhandel for a total of EUR 2.3 mln.
Kenmore European Industrial fund has sold the Brackeler Hellweg industrial property in Dortmund, Germany, for around EUR 20 mln. The industrial property comprising around 140,000 m2 of land and a gross lettable area of 80,000 m2 was sold in two separate transactions. Kenmore said Tedi & Co., the current anchor tenant, has bought 125,000 m2 of the property, representing 70,000 m2 of its GLA for EUR 17.7 mln. The remaining area of 14,285 m2 was sold to Rewe Dortmund Grobhandel for a total of EUR 2.3 mln.
'With no debt secured against this asset, this sale goes a long way to help manage our strategy of degearing the fund', said Rob Brook, managing director of Kenmore Financial Services.
